InsideArbitrage Event Driven Monitor – August 10, 2023

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Merger Arbitrage

1. CTG: Computer Task Group, Incorporated to be acquired by Cegeka Groep nv for $162.39 million or $10.50 per share in cash.
2. DBTX: Decibel Therapeutics to be acquired by Regeneron Pharmaceuticals (REGN) for $109 million. Under the terms of the agreement, shareholders of Decibel Therapeutics will receive $4.00 per share, with an additional non-tradeable contingent value right (CVR) to receive up to $3.50 per share in cash upon achievement of certain clinical development and regulatory milestones for Decibel’s lead investigational candidate, DB-OTO, within specified time periods.
3. AVID: Avid Technology (AVID) by an affiliate of STG for $1.4 billion or $27.05 per share in cash.

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